North 38 Student Housing
A long-time personal relationship turned into a first investment with the Operating Partners to fill out their equity requirement. They chose Zitelman Partners because Zitelman Partners was able to complete due-diligence quickly and commit to fund. Zitelman Partners and its Investor Partners have invested over $10 million in four separate student housing properties owning a total of 3,100 beds with this Operating Partner.
Status:
Investors have received a 2x Equity Multiple, and all Net Invested Capital has been returned.the properties continue to generate significant quarterly distributions.
Property type
816-Bed Student Housing
Location
James Madison University, Harrisonburg, VA
Date of Investment
2017
Total Capitalization
$31,200,000
Total Equity Required
$8,400,000
Total Equity from Zitelman Partners and its Investor Partners
$1,254,000